"Remember, diamonds are only lumps of coal that stuck to their jobs." -B.C. Forbes
Whether you're trying to stick to a budget, a business plan, a parenting strategy, or an exercise plan, envision the end result and keep at it.
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𝗪𝗵𝘆 𝗶𝘀 𝗴𝗲𝘁𝘁𝗶𝗻𝗴 𝗮 𝗯𝗶𝗴 𝘁𝗮𝘅 𝗿𝗲𝗳𝘂𝗻𝗱 𝗯𝗮𝗱?
Because it means you gave the government too much of your paycheck all year.
We get it. A refund feels good when it hits your account.
But that money was yours the whole time! So, with a few adjustments, you could make that money work for you now.
1. 𝗬𝗼𝘂𝗿 𝘄𝗶𝘁𝗵𝗵𝗼𝗹𝗱𝗶𝗻𝗴
This is the amount your employer takes out of each paycheck for taxes. If too much is coming out, updating your W-4 can help bring that number closer to what you actually owe.
2. 𝗬𝗼𝘂𝗿 𝘀𝗶𝗱𝗲 𝗶𝗻𝗰𝗼𝗺𝗲
If you freelance, drive for an app, sell online, or earn income outside your W-2 job, it’s better to plan for those taxes during the year instead of being surprised later.
3. 𝗬𝗼𝘂𝗿 𝗲𝘅𝘁𝗿𝗮 𝗰𝗮𝘀𝗵
Money sitting with the IRS all year could have been in a savings account, retirement account, HSA, or another place where it had a chance to work for you.
True or false: I’d rather get a smaller refund if it meant keeping more money in my paycheck each month.
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𝘿𝙤 𝙮𝙤𝙪𝙧 𝙗𝙤𝙤𝙠𝙨 𝙢𝙖𝙩𝙘𝙝 𝙮𝙤𝙪𝙧 𝙗𝙖𝙣𝙠 𝙖𝙘𝙘𝙤𝙪𝙣𝙩 𝙧𝙞𝙜𝙝𝙩 𝙣𝙤𝙬?
We don’t mean “close enough”… Do they actually match?
Because if they don’t, expenses never make it into your books, income can get counted twice, your profit ends up looking higher (or lower) than it really is, and you wind up paying taxes based on the wrong number.
We see this more than you’d think. It comes down to having regular reconciliation.
A simple monthly check fixes most of this, so…
• Do it the same day each month
• Match your bank balance to your software
• Review anything that hasn’t cleared
• Clean up old or duplicate transactions
If you waited until tax time to sort things out this year, this is your chance to stay ahead of it for next year.
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Just think if we relied on ChatGPT to talk to you about your taxes.
The thing that sets us apart from those big tax corporations is that we write like we talk. Like a human. Not a machine.
Which means we help you like you're a human, not a number.
Why AI Writing Is Quietly Eroding Your Professional Credibility
www.forbes.com
Is your writing quietly reading as AI to your boss and your customers? Most leaders are paying a credibility cost they don't know they're paying.0 CommentsComment on Facebook
𝗛𝗼𝘄 𝗰𝗼𝘂𝗹𝗱 𝗜 𝗵𝗮𝘃𝗲 𝗽𝗮𝗶𝗱 𝗹𝗲𝘀𝘀 𝗶𝗻 𝘁𝗮𝘅𝗲𝘀 𝗹𝗮𝘀𝘁 𝘆𝗲𝗮𝗿?
To answer that, you have to look at the return you just filed. It’s the primary place where you can see exactly how your financial decisions translated into your tax bill.
Here are the two areas you should audit immediately:
1. Your Effective Tax Rate -- This is the actual percentage you paid after credits and deductions were applied. If this number is higher than you expected, you likely aren't utilizing the right tax-shifting strategies or accounts to protect your income.
2. Your Refund Amount -- If you received a large check, you essentially gave the IRS an interest-free loan for up to twelve months. That is capital you could have been deploying into your own investments or savings every single month.
If you want us to review your 2024 or 2025 return and identify exactly where you can keep more of what you earn in 2026, comment 𝗥𝗘𝗩𝗜𝗘𝗪 below.
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𝙒𝙝𝙖𝙩 𝙞𝙛 𝙄 𝙘𝙖𝙣’𝙩 𝙥𝙖𝙮 𝙢𝙮 𝙩𝙖𝙭 𝙗𝙞𝙡𝙡 𝙞𝙣 𝙛𝙪𝙡𝙡?
First, and most important, don’t ignore it. It’s easy to put off a tax bill when you know you can’t pay it. But that usually makes the problem more expensive.
Here’s what we generally recommend to our clients:
1. Pay as much as you can right now. Even a partial payment helps reduce the interest and penalties that continue to accrue.
2. Look at short-term IRS payment relief. In some cases, the IRS may allow additional time to pay in full.
3. Set up an installment agreement.
4. If paying would keep you from covering basic living expenses, see if you qualify for Currently Not Collectible status.
5. See if an Offer in Compromise is an option for you.
6. Avoid using credit cards, private loans, or home equity to pay the IRS, as this can put you in a much more difficult (and higher interest) position.
7. If necessary, consider selling assets you no longer need.
If you want help sorting through the options, comment 𝗣𝗔𝗬 below.
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𝙄𝙨 𝙨𝙚𝙫𝙚𝙣 𝙮𝙚𝙖𝙧𝙨 𝙡𝙤𝙣𝙜 𝙚𝙣𝙤𝙪𝙜𝙝 𝙩𝙤 𝙠𝙚𝙚𝙥 𝙚𝙢𝙥𝙡𝙤𝙮𝙚𝙚 𝙧𝙚𝙘𝙤𝙧𝙙𝙨?
Sometimes. But it’s not a complete retention policy.
Some employee records can be cleaned up sooner. Others need to be kept much longer. That’s why using one general rule for everything can create risk.
The better approach is to sort records by type and apply the right timeline to each one.
Worth a quick review if your retention system has been running on autopilot.
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